Compute MV Corp.'s 2019 taxable income given the following Information relating to its year i activities. Also, compute MV's Schedule M-1 assuming that MV's federal Income tax expense for book purposes is $100,000. Use Exhibit 16-6. Gross profit from Inventory sales of $500,000 (no book-tox differences). Dividends MV received from 25 percent-owned corporation of $100,000 (assume this is also MV's pro rata share of the distributing corporation's earnings). Expenses other than DRD, charitable contribution (CC), and net operating loss (NOL), are $350,000 (no book-tax differences). NOL carryover from 2018 of $10,000. Cash charitable contribution of $120,000. 1 Complete this question by entering your answers in the tabs below. Rea 1 Reg 2 Compute MV Corp.'s 2019 taxable income given the following information relating to its year 1 activities. (Negative amounts should be Indicated by a minus sien. Leave no answer blank. Enter zero it applicable) Decoription Book Income (Dr) Cr S 500,000 Book-tax adjucimanto Taxablo Inooma Dri Cr (Dn Cr 5 os 500.000 Gract profit Other income Dividend income Groza Income 100,000 0 100,000 EGO,000 5 600.000 5 Exports Business expenses other than ERD. CC and NOL Fodera income tax expen 350.000 100.000 Total es before contribution, NOL and CRD 450.000 income before the contribution, NOL and DRD NOL Carrycostro oro ya Table income for chama contato in purposes table comes ( ON contro Theme bora ORD Overcover EADI 5 Ron 2 >